“Blockchain” for preventing the corruption in the procurement of Thai state electricity enterprises

Abstract

Blockchain is a disruptive technology, especially in financial operations. The advantages of blockchain technology are the inability to reverse and correct transactions that have been verified, and it does not require intermediaries to process the transactions. This concept makes blockchain an interesting tool that can be applied in the procurement process of Thai state-owned power enterprises. Electricity now plays a significant role in people’s ways of living such as through the use of electrical appliances, cars, and in housing. As a result, power generation and distribution by state-owned power organizations are likely to increase to meet high demand of consumers. Consequently, corporate procurement has expanded. The procurement process is important and relevant to the organizations’ budget disbursement such as construction and procurement of tools and machines to carry out power generation and distribution. Thus, blockchain is an interesting technology that can be applied to secure transparency and accuracy of information to assist government officials and organizations as well as to reduce doubts or disputes between government organizations and people in case of corruption.

The purpose of this academic article aims to study the feasibility of applying blockchain technology as a guideline to prevent corruption in the procurement process of government officials in Thai state power enterprises. Relevant concepts and theories for analysis will be further introduced.